WASHINGTON, March 27, 2012 /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Terrell Place, owned by affiliates of Beacon Capital Partners, LLC and General Electric Pension Trust, has become DC's first trophy office building to be awarded LEED® Platinum certification for Existing Buildings: Operations & Maintenance (LEED for Existing Buildings: O&M). Located in DC's Central Business District at 575 7th Street, NW, across from the Verizon Center, the multi-tenant building has 522,000 gross square feet. LEED is the nation's preeminent program for the design, construction and operation of high performance green buildings, established by the U.S. Green Building Council (USGBC) and verified by the Green Building Certification Institute (GBCI).
"Beacon Capital Partners and GE Asset Management (advisor to GE Pension Trust) continue to demonstrate their commitment to sustainability and energy efficiency by growing the number of LEED certified buildings in their portfolio, and Cassidy Turley is proud to be a partner in their ongoing initiative," commented Evan Tyroler, Vice President of Sustainability Services with Cassidy Turley. "In conjunction with the energy efficiency programs, our team engaged tenant participation to help achieve additional LEED points. In doing so, Terrell Place has become the first LEED EB Platinum building in DC that is not owner occupied, proving that LEED EB Platinum certification can be achieved in a multi-tenant, mixed use office building," he continued.
"Terrell Place is Beacon's third LEED Platinum certification in the U.S. and is a testament to our commitment to sustainability and energy efficiency," said Fred Seigel, President and Chief Operating Officer of Beacon Capital Partners. "Beyond the environmental impacts, we believe that the LEED program rewards our tenants with better infrastructure, enhanced control of indoor climate conditions, more efficient use of energy and water resources, and more consistent operating expenses."
Over the past three years, Beacon Capital Partners has engaged Cassidy Turley's Sustainability Services to oversee sustainability initiatives throughout their DC metro portfolio. This strategic partnership has led to the LEED certification of 13 multi-tenant office buildings, totaling over 3.8 million square feet, with an additional 2 buildings currently underway. This has allowed for the integration of sustainability best practices throughout the local portfolio, contributing to a healthier environment for building tenants and the larger community.
"Terrell Place's LEED certification demonstrates tremendous green building leadership," said Rick Fedrizzi, President, CEO & Founding Chair, U.S. Green Building Council. "The urgency of USGBC's mission has challenged the industry to move faster and reach further than ever before, and Terrell Place serves as a prime example with just how much we can accomplish."
Cassidy Turley's Sustainability Services team handled the day-to-day project management required to achieve the certification. The LEED Platinum certification of the building was based on modifications to the operations and maintenance procedures that positively impacted the building itself and the broader community. These features include:
- Developed a comprehensive energy management program that included full building retro-commissioning, implementation of various energy conservation measures and an on-going commissioning plan to ensure continued optimal building efficiency
- Offset 100 percent of the building's energy consumption by purchasing Renewable Energy Certificates (REC's) and Carbon Offsets
- Achieved ENERGY STAR Certification
- Over 70 percent of building occupants use alternatives to single occupancy vehicles when commuting, helping to reduce the overall carbon footprint of the building
About U.S. Green Building Council
The Washington, D.C.-based U.S. Green Building Council is committed to a prosperous and sustainable future for our nation through cost-efficient and energy-saving green buildings. With a community comprising 80 local affiliates, more than 18,000 member companies and organizations, and more than 155,000 LEED Professional Credential holders, USGBC is the driving force of an industry that is projected to contribute $554 billion to the U.S. gross domestic product from 2009-2013. USGBC leads an unlikely diverse constituency of builders and environmentalists, corporations and nonprofit organizations, elected officials and concerned citizens, and teachers and students. Buildings in the United States are responsible for 39% of CO2 emissions, 40% of energy consumption, 13% water consumption and 15% of GDP per year, making green building a source of significant economic and environmental opportunity. Greater building efficiency can meet 85% of future U.S. demand for energy, and a national commitment to green building has the potential to generate 2.5 million American jobs.
The U.S. Green Building Council's LEED green building certification system is the foremost program for the design, construction and operation of green buildings. Over 32,000 projects are currently participating in the commercial and institutional LEED rating systems, comprising over 9.6 billion square feet of construction space in all 50 states and 114 countries. By using less energy, LEED-certified buildings save money for families, businesses and taxpayers; reduce greenhouse gas emissions; and contribute to a healthier environment for residents, workers and the larger community. USGBC was co-founded by current President and CEO Rick Fedrizzi, who spent 25 years as a Fortune 500 executive. Under his 15-year leadership, the organization has become the preeminent green building, membership, policy, standards, influential, education and research organization in the nation. For more information, visit www.usgbc.org.
About Beacon Capital Partners
Beacon Capital Partners, LLC ("Beacon") is a Boston-based real estate investment firm. Beacon and its predecessor companies have been actively involved in the real estate business for over sixty-five years and have an established reputation as a high-quality property owner, operator, and developer of urban office and mixed-use projects across the U.S. Beacon was formed in January 1998, following the merger of the predecessor public company, Beacon Properties Corporation, with Equity Office Properties Trust. Beacon has sponsored seven investment vehicles representing over $11 billion of aggregate equity capital from various endowments, foundations, pension funds, and other institutional investors.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,500 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals across the globe. Please visit www.cassidyturley.com for more information about Cassidy Turley.
SOURCE Cassidy Turley